Metaplanet Inc., a publicly listed company in Japan, has once again expanded its Bitcoin holdings. The firm has added 319 more BTC to its balance sheet as part of its ongoing treasury strategy. Despite market volatility, Metaplanet continues to show strong confidence in Bitcoin’s future, using smart financial moves to strengthen its position in the crypto space.
What’s fueling this aggressive approach? How is the company pulling it off without piling up debt?
We’ve got the same questions as you. Read on!
The new Bitcoin purchase was made at an average price of 11.8 million yen per BTC, totaling 3.78 billion yen. With this addition, Metaplanet now holds 4,525 BTC in total, bought at an average price of 12.8 million yen each. That’s worth about 58.1 billion yen.
While the crypto market has faced a downturn, Metaplanet’s stock has held steady with a 0.57% gain this year. Each new purchase shows the company’s long-term belief in Bitcoin as a valuable asset.
Measuring Growth with ‘BTC Yield’
To track how well its Bitcoin strategy is working, Metaplanet uses a special metric called BTC Yield. This measures how much Bitcoin the company holds compared to the number of shares it has in circulation.
From January to March 2025, Metaplanet reported a BTC Yield of 95.6%. Between April 1 and April 14, the yield was 6.5%, showing continued growth even in a shorter time frame.
To fund its large Bitcoin purchases, Metaplanet has teamed up with major investor EVO FUND. Instead of using traditional loans that require interest payments, the company has been issuing zero-coupon bonds, which don’t pay interest.
In exchange, EVO FUND receives the right to buy Metaplanet shares at the market price. When EVO FUND buys those shares, Metaplanet gets cash, which it then uses to repay bonds or buy more Bitcoin.
From January to March 2025, the company issued several bond rounds, each ranging from 2 to 4 billion yen, supporting its Bitcoin investment strategy.
Despite issuing millions of shares, Metaplanet claims it’s carefully managing dilution, which means shareholders aren’t losing too much ownership percentage in the company. The company uses a calculation of “Bitcoin per fully diluted share” to show that each share is becoming more valuable in terms of Bitcoin.
Metaplanet is following a strategy similar to U.S.-based MicroStrategy, now Strategy, turning its corporate treasury into a large Bitcoin reserve. By combining smart financing with strategic share issuance, the company is making a strong bet on Bitcoin as a long-term asset.
As crypto interest grows in Japan, Metaplanet is positioning itself as a leader in corporate Bitcoin adoption across Asia.
Metaplanet holds 4,525 BTC, worth around 58.1 billion yen, as part of its long-term corporate treasury strategy.
It issues zero-coupon bonds to EVO FUND, gets cash from share conversions, and uses that to buy BTC or repay bonds.
Despite a crypto slump, Metaplanet stock is up 0.57% in 2025, showing resilience alongside its growing Bitcoin holdings.
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